Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Thematic (Sector/Industry)

Thailand Financials / Thematic (Sector/Industry)

<ul><li>The 3Q24E performances of the four mid- to large-sized banks under our coverage should not be particularly impressive, reflecting cautious market sentiment.</li><li>This is evident in an expected contraction in loan portfolios and high levels of provisions, while net interest margins (NIM) are anticipated to decline slightly QoQ.</li><li>We estimate total net profit to be around Bt38.6bn, representing a 4.3% YoY increase but a 3.0% QoQ decline. </li></ul>

The 3Q24E performances of the four mid- to large-sized banks under our coverage should not be particularly impressive, reflecting cautious market sentiment.This is evident in an expected contraction in loan portfolios and high levels of provisions, while net interest margins (NIM) are anticipated to decline slightly QoQ.We estimate total net profit to be around Bt38.6bn, representing a 4.3% YoY increase but a 3.0% QoQ decline. 

Banking - Banks’ Overall Earnings Outlook in 3Q24E Not Particularly Impressive